Cambridge Savings Bank Mortgage Rates, Fees & Info

Cambridge, MA

LEI: 549300FHGNOLF14HHS09

Tax ID: 04-1145100

5 stars - out of 5 stars, based on 35 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Cambridge Savings Bank is a smaller bank specializing in Home Purchase and Refi loans. Cambridge Savings Bank has a high proportion of conventional loans. Their top markets include Boston, Barnstable Town, Worcester, Providence, and Manchester among others. Cambridge Savings Bank has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Cambridge Savings Bank is typically an average fee lendor.


Originations

1,258

Origination Dollar Volume (All Markets)

$947,380,000

Employee count

450

Awards

Cambridge Savings Bank 30 Year Conventional Loans silver Cambridge Savings Bank 30 Year Conventional Loans silver
Show all (2) awards

Relative Rate

Cambridge Savings Bank's average 30 year fixed rate mortgage of loans were 3.01%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.14%.

Relative Fees

Cambridge Savings Bank's average total fees for a 30 year fixed rate mortgage are $3,514.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 1,159 $900,095,000 $776,613 $3,307 2.98%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 31 $18,885,000 $609,194 $3,396 2.98%
WORCESTER, MA-CT (FHA|USDA|VA) 40 $16,470,000 $411,750 $2,931 2.99%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 9 $3,545,000 $393,889 $3,122 3.32%
Outside of Metro Areas 2 $2,510,000 $1,255,000 $5,554 2.75%
MANCHESTER-NASHUA, NH (FHA|USDA|VA) 5 $1,815,000 $363,000 $2,617 2.78%
SPRINGFIELD, MA (FHA|USDA|VA) 6 $1,300,000 $216,667 $2,624 2.98%
Vineyard Haven, MA (FHA|USDA|VA) 2 $1,280,000 $640,000 $4,104 2.88%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 1 $555,000 $555,000 $0 2.88%
Lebanon, NH-VT (FHA|USDA|VA) 2 $530,000 $265,000 $2,482 2.75%
PITTSFIELD, MA (FHA|USDA|VA) 1 $395,000 $395,000 $3,020 2.63%

Cambridge Savings Bank's top markets include Boston, Barnstable Town, Worcester, Providence, and Manchester among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 1,258 $947,380,000 $753,084 $3,293 2.98%

For the 2021 period, Cambridge Savings Bank's most frequently originated loan type of loans were Conventional, with 1,258 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 574 $554,310,000 $965,697 $3,892 3.04%
Refi 426 $227,660,000 $534,413 $2,798 2.84%
Cash Out Refi 247 $158,355,000 $641,113 $2,834 3.04%
Home Improvement 10 $7,010,000 $701,000 $2,456 4.05%
Other 1 $45,000 $45,000 $0 5.25%

For the 2021, Cambridge Savings Bank's most frequently cited loan purpose of loans were Home Purchase, with 574 originations. The 2nd most popular reason of loans were Refi, with 426 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 957 $603,215,000 $630,319 $3,514 3.01%
15 Year 160 $63,100,000 $394,375 $2,583 2.52%
20 Year 63 $33,915,000 $538,333 $2,600 2.98%
Other 35 $180,475,000 $5,156,429 $2,224 4.14%
10 Year 33 $19,645,000 $595,303 $2,105 2.88%
5 Year 6 $38,160,000 $6,360,000 $0 4.04%
3 Year 3 $8,295,000 $2,765,000 $0 4.25%
1 Year 1 $575,000 $575,000 $0 5.00%

For the 2021, Cambridge Savings Bank's most frequently cited loan length of loans were 30 Year, with 957 originations. The 2nd most popular length of loans were 15 Year, with 160 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 989 $592,125,000 $598,711
$1k-2k 68 $26,040,000 $382,941
$2k-3k 17 $7,685,000 $452,059
$5k+ 10 $6,390,000 $639,000
$3k-4k 9 $3,685,000 $409,444

$3,514 of loans were Cambridge Savings Bank's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 989 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 713 $494,825,000 $694,004
3-4% 305 $314,235,000 $1,030,279
<2.5% 182 $83,260,000 $457,473
4-5% 37 $47,855,000 $1,293,378
5-6% 21 $7,205,000 $343,095

During 2021, Cambridge Savings Bank's average interest rate of loans were 3.01%, while their most frequently originated rate bucket of loans were 2.5-3%, with 713 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$600k-1MM 341 $258,745,000 $758,783 $3,861 2.94%
$400k-600k 324 $161,910,000 $499,722 $3,150 2.89%
$200k-400k 320 $96,900,000 $302,813 $2,531 2.92%
$1MM+ 166 $415,630,000 $2,503,795 $5,506 3.17%
$100k-200k 83 $12,735,000 $153,434 $1,754 3.08%
$100,000 or less 24 $1,460,000 $60,833 $406 4.05%

2021 saw Cambridge Savings Bank place emphasis on $600k-1MM loans with 341 originations, totaling $258,745,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$250k+ 379 $314,345,000 $829,406 $3,922 2.97%
$150k-250k 358 $213,330,000 $595,894 $3,365 2.90%
$100k-150k 260 $112,130,000 $431,269 $2,969 2.95%
$75k-100k 113 $38,485,000 $340,575 $2,699 2.91%
$50k-75k 85 $20,835,000 $245,118 $2,367 2.82%
$50k or less 15 $3,265,000 $217,667 $2,423 2.98%

Cambridge Savings Bank lent most frequently to those with incomes in the $250k+ range, with 379 originations. The second most popular income band? $150k-250k, with 358 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 330 $186,630,000 $565,545 $3,188 2.90%
30-36% 284 $175,080,000 $616,479 $3,444 2.91%
<20% 159 $85,315,000 $536,572 $3,075 2.87%
39% 56 $33,660,000 $601,071 $3,600 3.07%
37% 50 $29,320,000 $586,400 $3,677 2.90%
41% 47 $30,815,000 $655,638 $3,538 2.95%
38% 47 $30,085,000 $640,106 $3,558 3.08%
40% 47 $30,435,000 $647,553 $3,377 2.99%
36% 39 $26,445,000 $678,077 $3,353 2.91%
42% 38 $26,390,000 $694,474 $3,524 3.04%
44% 26 $10,180,000 $391,538 $2,744 2.92%
43% 23 $9,475,000 $411,957 $2,825 3.04%
45% 18 $7,750,000 $430,556 $2,563 2.95%
46% 15 $6,095,000 $406,333 $2,703 3.06%
49% 12 $3,910,000 $325,833 $2,501 2.82%
47% 10 $5,140,000 $514,000 $3,706 3.00%
48% 8 $3,370,000 $421,250 $3,069 2.84%

Cambridge Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 330 originations. The next most common DTI ratio? 30-36%, with 284 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 852 $471,490,000 $553,392 $3,197 2.92%
Not applicable 48 $244,990,000 $5,103,958 $0 4.24%
Not provided 201 $137,805,000 $685,597 $3,589 2.94%
Asian 118 $76,190,000 $645,678 $3,547 2.95%
Black 38 $16,270,000 $428,158 $3,120 3.12%
Asian Indian 1 $635,000 $635,000 $3,638 2.88%

Approval Rates

Total approvals of all applications
94.62%

Cambridge Savings Bank has an average approval rate.

Pick Rate

Approvals leading to origination
85.59%

Cambridge Savings Bank has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 1,258 $947,380,000 $753,084

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,258 $947,380,000 $753,084

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 165 $58,535,000 $354,758 $2,559 2.87%
40-60% 292 $296,410,000 $1,015,103 $2,946 2.94%
60-80% 476 $395,520,000 $830,924 $3,598 3.01%
80-100% 259 $180,365,000 $696,390 $4,011 2.87%
Over 100% 1 $2,125,000 $2,125,000 $0 4.75%
Under 20% 65 $14,425,000 $221,923 $1,411 3.61%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Cambridge Savings Bank 1 Thompson Square Charlestown, MA 2129 Full Service B&M $34,828
Cambridge Savings Bank 140 Middlesex Turnpike Burlington, MA 1803 Full Service B&M $101,278
Cambridge Savings Bank 154 Cambridge St Burlington, MA 1803 Full Service B&M $189,772
Cambridge Savings Bank 1781 Massachusetts Avenue Lexington, MA 2420 Full Service B&M $235,078
Cambridge Savings Bank 181 Great Road Bedford, MA 1730 Full Service B&M $151,473
Cambridge Savings Bank 188 Massachusetts Avenue Arlington, MA 2474 Full Service B&M $192,396
Cambridge Savings Bank 202 Sudbury Road Concord, MA 1742 Full Service B&M $159,882
Cambridge Savings Bank 40 Leonard Street Belmont, MA 2478 Full Service B&M $224,376
Cambridge Savings Bank 53 White Street Cambridge, MA 2140 Full Service B&M $280,987
Cambridge Savings Bank 54 Arsenal Street Watertown, MA 2472 Full Service B&M $188,904
Cambridge Savings Bank 626 Massachusetts Avenue Arlington, MA 2476 Full Service B&M $402,597
Cambridge Savings Bank 630-632 Massachusetts Avenue Cambridge, MA 2139 Full Service B&M $163,653
Cambridge Savings Bank 638 Main Street Melrose, MA 2176 Full Service B&M $242,684
Cambridge Savings Bank 739 Beacon Street Newton Center, MA 2459 Full Service B&M $220,197
Cambridge Savings Bank 81 Wyman St Waltham, MA 2451 Full Service Cyber Office $62,791
Cambridge Savings Bank 81 Wyman Street Waltham, MA 2451 Full Service Cyber Office $1,758
Cambridge Savings Bank 1300 Massachusetts Avenue Arlington, MA 2476 Full Service B&M $153,504
Cambridge Savings Bank 1374 Massachusetts Ave Cambridge, MA 2138 Full Service B&M $1,329,915
Cambridge Savings Bank 1378 Cambridge Street Cambridge, MA 2139 Full Service B&M $111,615

For 2021, Cambridge Savings Bank had 19 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $168,503
Net interest income $152,211
Total noninterest income $20,013
Gross Fiduciary activities income $0
Service charges on deposit accounts $2,017
Trading account gains and fees $0
Additional Noninterest Income $17,996
Pre-tax net operating income $57,796
Securities gains (or losses, -) $2,842
Income before extraordinary items $47,337
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $47,337
Minority interest net income $0
Net income $47,337
Sale, conversion, retirement of capital stock, net $0
Net operating income $45,091

Cambridge Savings Bank's gross interest income from loans was $168,503,000.
Cambridge Savings Bank's net interest income from loans was $152,211,000.
Cambridge Savings Bank's fee based income from loans was $2,017,000.
Cambridge Savings Bank's net income from loans was $47,337,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $16,292
Provision for credit losses $2,400
Total noninterest expense $112,028
Salaries and employee benefits $67,048
Premises and equipment expense $11,252
Additional noninterest expense $33,728
Applicable income taxes $13,301
Net charge-offs $254
Cash dividends $0

Cambridge Savings Bank's interest expense for loans was $16,292,000.
Cambridge Savings Bank's payroll and benefits expense were $67,048,000.
Cambridge Savings Bank's property, plant and equipment expenses $11,252,000.

Loan Performance

Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
All loans 0.0%
Real Estate loans 0.0%
Construction & Land Development loans 0.0%
Nonfarm, nonresidential loans 0.0%
Multifamily residential loans 0.0%
1-4 family residential loans 0.0%
HELOC loans 0.0%
All other family 0.0%
Commercial & industrial loans 1.0%
Personal loans 0.0%
Credit card loans 0.0%
Other individual loans 0.0%
Auto loans 0.0%
Other consumer loans 0.0%
Unsecured commercial real estate loans 0.0%

Deposits

Type Value (in 000's)
Total deposits $4,443,661
Deposits held in domestic offices $4,443,661
Deposits by Individuals, partnerships, and corporations $4,334,023
Deposits by U.S. Government $5
Deposits by States and political subdivisions in the U.S. $75,873
Deposits by Commercial banks and other depository institutions in U.S. $33,760
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $1,653,524
Demand deposits $1,082,437
Nontransaction accounts $2,790,137
Money market deposit accounts (MMDAs) $1,591,192
Other savings deposits (excluding MMDAs) $515,454
Total time deposits $683,490
Total time and savings deposits $3,361,224
Noninterest-bearing deposits $1,082,437
Interest-bearing deposits $3,361,224
Retail deposits $4,207,738
IRAs and Keogh plan accounts $100,590
Brokered deposits $29,993
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $5,339,773
Cash & Balances due from depository institutions $260,454
Interest-bearing balances $241,168
Total securities $596,247
Federal funds sold & reverse repurchase $0
Net loans and leases $4,197,424
Loan and leases loss allowance $49,054
Trading account assets $0
Bank premises and fixed assets $58,098
Other real estate owned $0
Goodwill and other intangibles $24,463
All other assets $203,087

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $5,339,773
Total Liabilities $4,830,126
Total deposits $4,443,661
Interest-bearing deposits $3,361,224
Deposits held in domestic offices $4,443,661
% insured (estimated) $58
Federal funds purchased and repurchase agreements $34,688
Trading liabilities $0
Other borrowed funds $270,822
Subordinated debt $0
All other liabilities $80,955

Issued Loan Types

Type Value (in 000's)
Net loans and leases $4,197,424
Loan and leases loss allowance $49,054
Total loans and leases (domestic) $4,246,478
All real estate loans $3,566,029
Real estate loans in domestic offices $3,566,029
Construction and development loans $250,421
Residential 1-4 family construction $55,544
Other construction, all land development and other land $194,877
Loans secured by nonfarm nonresidential properties $1,650,974
Nonfarm nonresidential secured by owner-occupied properties $95,633
Commercial real estate & other non-farm, non-residential $1,555,341
Multifamily residential real estate $358,333
1-4 family residential loans $1,306,301
Farmland loans $0
Loans held in foreign offices $0
Farm loans $0
Commercial and industrial loans $663,173
To non-U.S. addressees $0
Loans to individuals $5,433
Credit card loans $0
Related Plans $1,044
Consumer Auto Loans $4,054
Other loans to individuals $335
All other loans & leases $11,843
Loans to foreign governments and official institutions $0
Other loans $11,843
Loans to depository institutions and acceptances of other banks $0
Loans not secured by real estate $95,649
Loans secured by real estate to non-U.S. addressees $0
Restructured Loans & leases $878
Non 1-4 family restructured loans & leases $0
Total loans and leases (foreign) $0

Cambridge Savings Bank had $4,197,424,000 of loans outstanding in 2021. $3,566,029,000 of loans were in real estate loans. $250,421,000 of loans were in development loans. $358,333,000 of loans were in multifamily mortgage loans. $1,306,301,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $4,054,000 of loans were in the auto loan category.

Small Business Loans

Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
Nonfarm, nonresidential loans - <$1MM 115 $42,503 $369,591
Nonfarm, nonresidential loans - <$100k 12 $916 $76,333
Nonfarm, nonresidential loans - $100-250k 24 $3,177 $132,375
Nonfarm, nonresidential loans - $250k-1MM 79 $38,410 $486,203
Commercial & Industrial, US addressed loans - <$1MM 1,275 $119,995 $94,114
Commercial & Industrial, US addressed loans - <$100k 823 $13,426 $16,313
Commercial & Industrial, US addressed loans - $100-250k 179 $19,100 $106,704
Commercial & Industrial, US addressed loans - $250k-1MM 273 $87,469 $320,399